Top NFT whale machibigbrother dumps 1,000+ blue-chip collectibles in two days, Blockanalia reports
For instance, amid other 1,010 NFTs, Hwang sold 90 Bored Apes Yacht Club tokens, 191 Mutant Ape Yacht Club tokens, 112 Azukis and 308 Otherdeed NFTs. In total, Machi Big Brother made over $18 million by his selling campaign.
At the same time, he bought back the lion's share of this massive portion of tokens the next day. Also, he deposited 7,000 Ethers to the deposit pool of Blur , the most overhyped NFT marketplace of 2023 and the most dangerous OpenSea competitor.The whale is still holding 11,000 ETH in various NFTs, so his attack on markets might be very far from open.
It is worth noting that Machi Big Brother received 1 million BLUR tokens as the result of a recent airdrop. He immediately sold all of his airdrop rewards for $1.3 million, Arkham analystsNansen's researcher mentioned some aspects of Hwang's motivation. First of all, he might be interested in getting additional BLUR airdrops for his activity. Then, he could just be"booking" his profits from previous trading.
Also, we might be witnessing a large manipulation: Thurman stressed that such selling campaigns are in the spotlight of NFT traders and might catalyze interest in buying BAYC, MAYC and other top collections.
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